TIDMNSCI
RNS Number : 9483A
NetScientific PLC
07 June 2021
NetScientific plc
("NetScientific" or the "Group")
ProAxsis Update
ProAxsis signs global in-licensing agreement with AstraZeneca
for COVID-19 serology test
London, UK - 7 June 2021 - NetScientific plc (AIM: NSCI), the
international life sciences and sustainability technology
investment and commercialisation Group, announces that its wholly
owned subsidiary ProAxsis Limited ("ProAxsis" or the Company") has
entered into an exclusive licensing agreement with the global
biopharmaceutical company AstraZeneca. ProAxsis will take
responsibility for completing the validation and global
commercialisation of a SARS-CoV-2 (the virus associated with
COVID-19) serology ELISA (enzyme-linked immunosorbent assay)
developed by an internal research team at AstraZeneca. In return
for providing access to the required intellectual property and
technical know-how, AstraZeneca will receive a royalty fee on
future Global net sales of the assay.
Dr. Ilian Iliev, CEO of NetScientific commented: "We are
delighted to see continued progress, with another significant step
in ProAxsis' expanding product portfolio and market opportunities.
The assay could if fully validated potentially attract a
substantial market. It is envisaged that the validation and initial
commercialisation can be achieved largely from ProAxsis' existing
resources."
NetScientific holds 95% of ProAxsis on a fully diluted
basis.
The full text of the announcement from ProAxsis can be found
below.
# # #
ProAxsis Limited (www.proaxsis.com), the Belfast-based
respiratory diagnostics company, is delighted to announce it has
entered into an exclusive licensing agreement with the global
biopharmaceutical company AstraZeneca. ProAxsis will take
responsibility for completing the validation and global
commercialisation of a SARS-CoV-2 (the virus associated with
COVID-19) serology ELISA (enzyme-linked immunosorbent assay)
developed by an internal research team at AstraZeneca. In return
for providing access to the required intellectual property and
technical know-how, AstraZeneca will receive an undisclosed royalty
fee on future Global net sales of the assay.
Speaking about the agreement, Dr David Ribeiro, CEO of ProAxsis
, commented:
"We're excited to be involved with this assay to support such a
key area of global healthcare need. The research team at
AstraZeneca have already completed significant optimisation and
validation work, which has demonstrated the assay's high potential
sensitivity and specificity of detecting SARS-CoV-2 antibodies.
ProAxsis will extend this work to support the identification of
people who have raised antibodies against this challenging
virus."
John Clarkson, Chairman of Netscientific plc and ProAxsis ,
added: "Expanding the product portfolio and customer service
offering are stated goals for ProAxsis, so we're delighted with the
continued progress and reaching this mutually beneficial agreement
with AstraZeneca. Following the huge impact of the coronavirus
pandemic on society, it's excellent news that we can play our part
in the COVID-19 response and help deliver real benefits to the
community, through the application of ProAxsis' expertise in
respiratory assays."
Ruth March, SVP, Precision Medicine, AstraZeneca said: "The
development of this serology ELISA by our team is another example
of AstraZeneca's comprehensive response to the COVID-19 pandemic.
This highly sensitive and specific blood test makes use of simple
and convenient fingerstick sample collection that will be well
suited to large scale deployment and has the potential to play an
important role in antibody analyses in large populations."
Any enquiries concerning ProAxsis' work in respiratory
diagnostics can be directed to info@proaxsis.com.
About ProAxsis
ProAxsis Limited is a commercial diagnostics company, based in
Northern Ireland, and with a rapidly growing global client list of
pharmaceutical companies and academic laboratories. The company has
registered a CE Mark for activity-based immunoassays targeting
Neutrophil Elastase (NE) and Proteinase 3, as biomarkers of lung
infection and inflammation in chronic respiratory diseases such as
COPD, cystic fibrosis and bronchiectasis.
This technology has been translated into a point-of-care test
(NEATstik(R)), to enable ongoing monitoring of active NE levels.
Recently published data has shown that measuring active NE levels
using NEATstik(R) enables identification of patients with airway
bacterial infection and those patients at highest risk of suffering
pulmonary exacerbations over the subsequent 12 months.
In addition to proteases, the company also has significant
expertise in the measurement of other inflammatory biomarkers,
including IL-6, IL-8 and TNF-alpha. Grant-funded R&D funded
projects for a variety of targets remain a key area of focus.
Aside from the provision of assays, ProAxsis can offer sample
analysis at its purpose-built laboratory facility in Belfast and is
currently supporting a number of pharmaceutical company-sponsored
Phase I, II and III clinical trials.
# # #
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
For more information, please contact:
NetScientific Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser
and Broker)
Chris Fielding / Darshan Patel +44 (0)20 7220 1666
Walbrook PR
Nick Rome / Paul McManus/ 07748 325 236 or 07980 541 893
Nicholas Johnson or 07884 664 686
About NetScientific
NetScientific plc (AIM: NSCI) is a holding company, that invests
in, develops, commercialises and realises shareholder value in life
sciences/healthcare, sustainability and technology companies, which
offer significant growth potential predominately in the UK and USA,
as well as globally.
With the acquisition of EMV Capital in August 2020, the Group
doubled its portfolio from 8 to 17 companies, either through direct
subsidiary, balance sheet investment or capital under advisory,
varying from start-up private companies to publicly listed
equities.
NetScientific delivers shareholder returns through a proactive
and hands-on management approach to their portfolio companies;
identifying, investing in, and helping to build game-changing
companies. The Group targets value inflection points and the
release of value through partial or full exits from trade sales,
public listings, or equity sales. The Company has a strong
transatlantic and growing international presence, providing
attractive expansion prospects.
NSCI can deploy a capital-light investment structure; utilising
the power of the PLC Brand, and the NetScientific balance sheet to
anchor future investments and achieve a multiplier effect by
attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and
was admitted to trading on AIM, a market operated by the London
Stock Exchange, in 2013 (website: www.netscientific.net ).
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